Mohit, the founder of Born Good, stepped onto the Shark Tank India stage with confidence. His company, which specializes in eco-friendly detergents and cleaners, was seeking Rs 70 lakh for 1% equity, giving it a valuation of Rs 70 crore. He explained that he aimed to raise over Rs 12 crore in this funding round and expected to reach Rs 10 crore in revenue this year. However, his pitch took an unexpected turn when Aman Gupta, along with Vineeta Singh and Kunal Bahl, confronted him about his competition with Koparo, a brand they had previously invested in.
Mohit shared his background, revealing that he had spent 14 years in his family’s business. With a computer science degree from the United States and an MBA from INSEAD, he seemed well-qualified. Anupam Mittal was impressed by his education but questioned why the business wasn’t scaling faster. Mohit assured that their sales had doubled over the years, but Anupam wasn’t convinced. He pointed out that despite the revenue growth, the company was still heading towards a Rs 3.5 crore loss this year. Vineeta chimed in, bluntly telling Mohit that his pricing strategy was flawed. She remarked that if he had given away all his products for free, he would be in the same financial position.
Kunal took a different approach. He admitted he had a fascination with laundry detergents and often made it a point to visit detergent aisles in supermarkets worldwide. But he felt that Born Good was stuck in an undefined space, making it difficult to attract customers. Peyush Bansal initially showed some interest in investing, but when Mohit failed to answer critical financial questions, he reconsidered.
Aman, however, didn’t hold back. While Mohit respectfully addressed the investors as ‘sir’ and ‘ma’am,’ Aman remained informal, calling him ‘tu.’ He didn’t hesitate to bring up Koparo’s past appearance on the show. “When Simran from Koparo came, she received five offers. She was in a different league,” he said. He acknowledged that Mohit’s brand had good positioning, packaging, and pricing but insisted that the problem lay elsewhere. “Simran is a better founder than you. She impressed everyone, and investors are still interested in her. Her execution is superior to yours. Learn from her. Hunger! I don’t see it in you. It’s a founder issue, and unfortunately, I’m out.”
Mohit walked away without securing a deal. After he left, Peyush addressed what he felt was an unfair approach taken against him. He hinted at Aman’s aggressive stance, saying that a line had been crossed. “The founder should’ve been allowed to explain his business, but some people have money riding on competitors, and they became emotional. The poor guy didn’t expect to be questioned only about Koparo.”
Aman, standing by his viewpoint, countered without hesitation. He stated that if Mohit were to return, he would still bring up Koparo. “I will ask 10 more times. If a founder doesn’t want to talk about a company the entire country is aware of, I see a problem in that founder. I would’ve invested had I liked the guy. I don’t have a problem. There are four chips brands, who cares? But there is an issue here, there is no founder-market fit.”
After the pitch, Mohit addressed the comparisons made between Born Good and Koparo. He accepted that it was natural to compare brands and acknowledged that some of the sharks had invested in his competitor. However, he believed their feedback was fair. “Three out of the five judges seem to be investors in Koparo, so they have knowledge. And they’re here to help every brand, regardless of whether they’re investors in competitor brands. They want to do good for the person pitching, and I take their word at face value.”